Gold’s upward climb is not over, says Barrick

By

Reuters

PublishedThursday, January 28, 2010

While the gold price may be volatile, its upward climb is not over, the chairman of Barrick Gold Corp, the world’s biggest gold producer, said yesterday.

“It may fluctuate, but to us and I think to our investors, the key criteria should be that it’s got a secular tendency now to move up year in and year out, said Peter Munk from the World Economic Forum in Davos.

“While it may trade off in the two-week or three-month period, I think the trend is here to stay.”

Last year was the 10th straight year that the gold price ended higher than the previous year, he added.

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